9 Reasons to Buy Metaverse Land

Step App Team
November 16, 2022

9 Great Reasons to Buy Metaverse Land

There are more reasons than ever to buy Metaverse land. These virtual assets have seen considerable adoption over the last few years. Today there are metaverse properties worth millions. The rise of these digital assets is impressive and still very much ongoing. As such, more people are wondering if they should leap into virtual properties.  Here are some of the top reasons why you might want to consider the option to buy Metaverse land in the near future.

What is the Metaverse?

Interestingly, Metaverse is a term that has no direct definition. Most people consider the metaverse to be a 3D virtual environment that enables users to create 3D environments and objects as well as avatars within it. The concept of a metaverse came about years ago but it wasn’t until the introduction of blockchain assets like cryptocurrencies and NFTs (non-fungible tokens) that the concept took flight. 

The metaverse has the potential to change nearly every business system. Users can communicate and connect in new ways leveraging the full scope of web3 technologies such as augmented and virtual reality. This tech enables users to ignore geographical boundaries and communicate via speech and text with anyone. 

Step App enables people from around the globe to work together and stay fit. The network pushes the boundaries of fitness through the integration of blockchain assets within the metaverse. The protocol will enable you to create fitness zones out of your metaverse land and much more. 

Metaverse Land Stats

The metaverse land sector continues to gain momentum alongside the crypto industry. Notably, Play to Earn, Move to Earn, GameFi and FitFi are some of the biggest driving forces behind the popularity of metaverses right now.

Impressively, metaverse land sales are already in the billions in value. It’s not just gamers either. Major companies like Warner Music Group, Adidas, Gucci, and Atari all own virtual plots in the metaverse. 

According to reports, the top ten metaverses together offer around 622,000 metaverse land parcels. The values of these parcels vary greatly depending on the metaverse and location within the platform. Of these parcels, the highest-priced virtual real estate has been sold to celebrities, rappers and companies.

Why You Should Join the Fun and Buy Metaverse Land

There are lots of reasons to buy some Metaverse Land and join the metaverse revolution. When you buy metaverse land it opens the doors for a host of new virtual business opportunities. After you buy Metaverse Land you can monetize your virtual property in many ways. Just like in the real world, you can configure everything about the real estate transaction including how you get paid. 

The main thing to consider is that virtual land on blockchain-based networks is inherently scarce just like real property. Many popular metaverses have already sold many parcels of Metaverse land, so it's even more scarce for them. Just keep in mind that even though Metaverse land is scarce, not all Metaverse land is valuable, which is why you should be careful when you want to buy Metaverse land. 

  1. Buy Metaverse Land to Host Events on It

Imagine hosting a massive virtual concert. People from all over the world could attend. Already, there have been some record-breaking concerts held in the metaverse on top of Metaverse land. These concerts are just like the real thing with venues specifically built to host these events and world-class talent. The fact that major concerts and events have already happened in the Metaverse just goes to show that once you buy Metaverse land you can host events on it. 

One major crypto Metaverse recently hosted a 3-day festival that attracted millions of users. The event featured virtual performances from stars like Deadmou5 and more. Every concert attendee paid an entry fee and received a collectible NFT as memorabilia. Best of all, the event was packed with vendors selling everything you would expect to see at a concert from real-world merchandise to collectible NFTs. 

Anyone who buys Metaverse land has the ability to commercialize and monetize it through concerts and festivals. Imagine hosting a fitness festival with all of your closest friends. You could charge people a flat fee in tokens or require them to buy some NFT tickets to enter. You can even charge vendors who want to sell some popular Metaverse NFTs like the STEP NFTs on the Metaverse events being held on your Metaverse Land. 

  1. Buy Metaverse Land to Rent it Out

Another reason you would want to buy metaverse land is to become a virtual landlord. Virtual landlords are on the rise because of the flexibility and ease of becoming one nowadays. Virtual landlords can earn rental income without the maintenance and upkeep associated with real property.

There are a lot of early metaverse veterans that built up their property and rented it to companies like Nike. When you buy Metaverse land you are pioneering a new world with unimaginable limits, but be careful because there are also many pitfalls in this new industry. If you are considering the option to buy Metaverse land to rent it out just make sure that you are going for a popular/recognized metaverse that sells land. There are also many scammers selling fake Metaverse land NFTs, so make sure to never buy Metaverse land until you have verified the NFT is the real one.

Additionally, keep in mind that not all Metaverses sell Metaverse land, for example, you can’t buy Metaverse land from Step App, because Step App doesn’t sell Metaverse land. 

  1. Buy Metaverse Land to Open a Virtual Gym

The introduction of interactive AR apps like the STEP APP opens the door for virtual gyms. Imagine linking up with a group of your friends and earning crypto for jogging, walking, or competing against each other. Protocols like STEP APP have revolutionized and disrupted the existing world of fitness by creating a Metaverse-based fitness platform that enables people to turn all fitness endeavors into a social, as well as, competitive activity.

The Metaverse can continue to disrupt the world of fitness because anyone who owns virtual land can open up their own virtual fitness center, and add their own unique twist to it to keep things exciting. Keep in mind though that if you simply buy Metaverse land you will not be able to have a successful virtual fitness center. Running a virtual fitness center is a business, and will require a lot of work. The only advantage to a virtual fitness center is that Metaverse land is not geographically locked, so anyone from anywhere in the world can potentially visit your virtual fitness center and become a customer.

  1. Buy Metaverse Land to Become a Virtual Real Estate Developer

Once you buy some metaverse land, you can begin learning how to develop it, and become a virtual real estate developer. If you are good at games like Minecraft or SIMS, you will probably find it easier to learn the building processes of today’s top-performing metaverses. Once you master these skills you can buy Metaverse land plots that have not been developed yet, and develop some popular venues on them to potentially raise the value of the Metaverse land. 

With the introduction of corporations, institutions, and celebrities into the metaverse, more money is being spent on Metaverse land, which means becoming a virtual real estate developer might just become a reality in the near future. Keep in mind though that if you buy Metaverse land and are considering developing it, you are taking on some serious risk. At the end of the day the main idea behind buying any real estate as a developer is to increase the value of the land that you bought by developing it, but even after being developed the value of land doesn’t always necessarily increase.  

  1. Buy Metaverse Land to Create a Virtual Ad Agency

One of the reasons many people consider the option to buy Metaverse land is to use it for advertising opportunities. Some of the earliest people who went ahead, and made the decision to buy metaverse land have begun monetizing it by turning their property into virtual advertisements like billboards, banners, and more. The metaverse is an advertiser's dream because, unlike the real world, they can place ads wherever and for whatever they desire. 

Advertising on your Metaverse land allows you to charge tokens from anyone who wants to utilize your plot of Metaverse land for ad space. Another strategy would be to allow people to promote products and services on your Metaverse land by getting them to place referral links and codes on the ads they place on your Metaverse land. This way you can charge a commission every time a buyer uses the referral links or codes on your Metaverse land.

If you want to buy Metaverse land strictly to create ad spaces, keep in mind that this is a high-risk and low-reward endeavor. Granted this is a very low-effort virtual business to run on your Metaverse land. Nevertheless, do keep in mind before you go ahead and buy Metaverse land that not all Metaverse land is going to be an attractive ad space. Additionally, if you do actually buy Metaverse land you can run some other business on top of it, and simply use portions of the land as ad spaces to make some supplementary income from your metaverse land.  

  1. Buy Metaverse Land and Host Trade Shows on It

Metaverse trade shows could become very popular sometime in the near future. If you buy Metaverse land then developing your land to support trade shows can make you the ideal location for global trade events and shows. Virtual trade shows on the Metaverse utilize NFTs to enable creators to showcase and sell their digital assets like music, art as well as videos to other people.  

According to certain statistics, virtual trade shows can be a multibillion-dollar industry in the near future. There are multiple ways to monetize these virtual trade shows such as charging people a flat fee or requiring people to purchase NFT tickets to enter the virtual trade show happening on your Metaverse land. You could even use more advanced methods to monetize these trade shows, for example creating a system that allows you to collect fees on all the trading activity happening within your virtual trade shows. 

Virtual trade shows on top of the Metaverse that leverage blockchain technology, and utilize NFTs to make global trade of digital assets almost frictionless has immense potential, but it also carries some serious risks. Making a trade show is one thing, but promoting a trade show is a whole other thing, so don’t just buy Metaverse land to make trade shows if you aren’t sure how to promote them. 

  1. Buy Metaverse Land and Host NFT Art Exhibitions on It

NFT art is booming, and the trading volumes in the NFT art space have been seeing impressive year-on-year growth. Additionally, NFT art is now more popular than ever before given all the celebrities and athletes endorsing them. There is plenty of NFT art that has sold for millions of dollars, thus bringing about a whole industry that revolves around NFT art. 

If you buy some Metaverse land you can show your support for the growing NFT art movement while also making some cash on the side from it by creating an NFT art exhibition. There are multiple ways to monetize your NFT art, such as: using a commission-based fee model for artists. This model can include charging NFT artists for a table or room at your event. 

Another approach is to charge attendees. This structure helps the artists that don't sell anything avoid losses. It also provides you with a budget to make the vent more spectacular. For example, you could hire talent like musicians or hosts to improve the overall experience. 

If you are new to NFTs and crypto you need to know that the entire NFT space isn’t just art. In fact, it is a lot more than just NFT art. For example, Step App produces Metaverse NFTs that come with some utility. STEP APP’s SNEAK NFTs give people access to a fitness Metaverse where they can participate in social fitness events, and compete with people from all over the world on the Metaverse. It's very important to know this because all the current talk about the huge potential growth in the NFT space is actually looking at the NFT space as a whole, and not just the NFT art space. 

  1. Buy Metaverse Land to Create Virtual Learning Spaces

The COVID-19 pandemic was terrible for the economy but it helped the virtual learning space considerably. People were forced to rely on virtual learning as their primary method to continue their studies. To great success, this style of learning helped to keep major learning institutions afloat and classes going despite the deadly virus killing millions.

The metaverse makes the virtual learning experience even better. Unlike zoom calls, virtual learning in the metaverse is done using virtual avatars. This structure makes the experience more immersive. Notably, analysts predict the industry to blossom into a billion-dollar tech sector. 

If you buy Metaverse land, and turn it into a virtual learning space it can be a great way to make the metaverse a better place for everyone, and make you some side cash as well. Teachers of all skills use your virtual learning institute to link up with students from across the globe. They show students advanced concepts using virtual representations that would have been nearly impossible to convey using other methods of digital communication. 

Using Metaverse land to create virtual learning institutes is a net positive activity for the world. Similarly, the STEP APP is creating a fitness metaverse that promotes fitness activities by giving people the ability to turn every exercise into a social activity. Additionally, STEP APP uses financial incentives to add a competitive element to fitness routines, and give people some rewards for successfully doing workout challenges. Promoting global fitness, health and education is something everyone should be glad to support. 

  1. Buy Metaverse Land to Create Games in the Metaverse

If you have some game dev experience, and are considering the option to buy Metaverse land you will find the metaverse is packed with opportunities for you. One of the most popular activities on the metaverse, and in the world in general is gaming.   

Metaverse land converted to games has high utility and visibility. If the game you make on your Metaverse land is properly designed, has good gameplay, and decent graphics it won’t be hard spreading the word about it. Most Metaverses provide SDKs and texture packs to help people  who buy Metaverse land develop their land. Although, game development, and particularly if you are trying to make a game that people will actually want to play, will require some serious programing, and development work on your end.  

Granted, if you already went ahead and decided to buy Metaverse land you could always partner with some devs to help you make the game even if you don’t know how. If the game you make on your Metaverse land is enjoyable, can attract and retain players then the Metaverse game could bring in a decent income for you. 

Game development on the Metaverse is something that has already begun gaining traction, and various different Metaverse games are already being developed or have been developed, so you will have to come up with something unique to stand out. For example, STEP APP is one of the pioneers in an entirely new Metaverse concept called Move to Earn, and FitFi, which has given the project a huge advantage in gaining recognition. 

When You Buy Metaverse Land there is Always a Risk

Like all digital assets, there are some risks that you should consider when thinking about the option to buy Metaverse land. The main thing to review is the technology and community. When purchasing land in a metaverse community you are going to want to select a location that has a vibrant user base. This user base will help to ensure your real estate remains in high demand. 

Another factor to think about is the technology behind the metaverse. It’s best to stick to blockchain-powered Metaverses because they provide the highest level of transparency to the market. 


Why Wouldn’t You Want to Buy Metaverse Land

After learning all the different ways you can transform metaverse land into virtual businesses, who wouldn't want to own some of this valuable virtual real estate? Notably, the metaverse has the potential to become a new medium for everything from business to education. Large companies continue to pour billions into the metaverse's development with firms like Facebook (now META) changing their entire business model to reflect the shift. 

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